Thrivent Financial for Lutherans Trims Stake in Ally Financial Inc. (NYSE:ALLY)

Thrivent Financial for Lutherans trimmed its stake in Ally Financial Inc. (NYSE:ALLY) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,494,944 shares of the financial services provider’s stock after selling 514,834 shares during the period. Ally Financial accounts for approximately 0.4% of Thrivent Financial for Lutherans’ holdings, making the stock its 29th largest position. Thrivent Financial for Lutherans owned about 1.81% of Ally Financial worth $217,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ increased its stake in Ally Financial by 2.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 57,719 shares of the financial services provider’s stock worth $2,290,000 after buying an additional 1,500 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Ally Financial by 86.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,527 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 1,632 shares during the last quarter. XTX Topco Ltd bought a new stake in Ally Financial in the second quarter worth about $1,979,000. Seven Eight Capital LP bought a new stake in shares of Ally Financial during the second quarter valued at approximately $922,000. Finally, Hsbc Holdings PLC raised its stake in shares of Ally Financial by 9.5% during the second quarter. Hsbc Holdings PLC now owns 815,383 shares of the financial services provider’s stock valued at $32,369,000 after acquiring an additional 70,407 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

Shares of ALLY stock opened at $34.49 on Friday. Ally Financial Inc. has a one year low of $22.54 and a one year high of $45.46. The company has a 50 day moving average price of $40.54 and a 200 day moving average price of $39.61. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial Inc. will post 3.51 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. Ally Financial’s payout ratio is currently 48.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALLY. Royal Bank of Canada reduced their price objective on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th. Morgan Stanley cut their target price on Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Citigroup initiated coverage on shares of Ally Financial in a research note on Monday, June 24th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Ally Financial has an average rating of “Hold” and a consensus target price of $41.41.

Ally Financial Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.